At lucent we recognise that tax is a set of numbers that emerges at the end of a business cycle, and bookkeeping is merely a means to that end. It’s what goes on between the tax and bookkeeping ends that’s vital for your business to thrive. In this ‘middle space’ live what we call your lucent numbers.
Knowing your lucent numbers is like having your own Virtual CFO at a fraction of the cost. It is the hand that guides you, the torch that lights the way, versus the retrospective report that tells you, all too late, where you went wrong.
Consider this analogy
When it comes to cashflow and profitability many business owners operate by ‘gut feel’ rather than on solid fact. This can be like driving a vehicle in the dark – nerve-wracking. It’s dangerous and you just hope that with a little luck and know-how you’ll reach your destination in one piece.
This is where lucent numbers come in
Your lucent numbers take the gut feel, the guess work, out of the equation.
lucent numbers are comprised of the real-time data that only an ‘end to end’ cloud accounting solution can provide. Your lucent numbers represent the tools, health checks and methodologies that turn numbers into meaningful business data.
lucent numbers shine a light on the KPIs you need to drive profit, cashflow and overall growth in your business.
Although we handle your tax and accounting work, ensuring your returns are lodged accurately and on time (and that you aren’t paying any more tax than you legally have to), more importantly we bring to light your lucent numbers.
lucent is not your typical accountant.
Why? Our focus is not on where you’ve been.
We’re more interested in where you want to go,
and how we’re going to get you there.
What this means for you
lucent numbers mean high-level strategic advice tailored to your business. It includes:
Our Virtual CFO provides the necessary guide by which your business success can be measured.
A solid understanding of your cashflow cycle is essential for any successful business. Combining proven cash management strategies with accurate forecasting, we can help to ensure capital spending decisions are undertaken with confidence and finance applications get approved.
Profit is critical to the long term survival of any business and demands efficient use of your assets and resources.
We work with you to establish a basis for monitoring performance, to ensure your business stays on track to reach and exceed its targets through pricing strategies, cost control, understanding and improving your margins.
Identifying growth opportunities is a priority in sustaining your business. Growth can be achieved through many different strategies.
Whether through increasing market share, expansion or product and service differentiation, we can help you grow your business while keeping your bottom line healthy.
So what can you expect when engaging lucent as your Virtual CFO?
Step 1: Strategic Planning Session and Report
A qualified accountant will conduct a strategic planning session with the business owner/decision makers to discuss and review the current financial position and performance of the business. We will also work with you to identify any immediate issues we need to address, determine the key drivers of profit and cashflow, review your tax structures and planning, discuss your growth targets and ultimately your goals and objectives for success.
We will then provide a report outlining our findings, proposed recommendations and strategies to deal with immediate issues as well as the action plan required.
Step 2: Implementation and Training
We will work with you and your team to integrate our CFO solution into your business including:
» implementing a set of Management Reports including KPI monitoring, budget and cash flow forecasts
» providing the required know-how for effective report interpretation including the use of data for empowered decision making
» implementing the action plan with agreed deadlines and areas of responsibility
Step 3: Ongoing Management
Operating as an extension of your business, you will be assigned your own highly qualified virtual CFO, who will inject innovation to manage your financial performance including:
» periodic meetings to review the health of your business against your strategic goals. These meetings introduce external accountability and therefore discipline into your structure in order to prevent you failing to implement. It also provides you a management framework to ensure that you have all the vital information you need to stay on track to achieving your goals.
» pro-active management of your cash-flow and its implications on your business
» pro-active monitoring of your tax liabilities and implications, ensuring you are fully informed throughout the year and in a position to capitalise on opportunities before year end.
» review and re-set: at agreed milestones, we work with you to review and reflect on the accomplishments you have made and the activities that were maybe not as successful. By doing this we help you reset your strategy and action plan for the next cycle of activity
Step 4: Integrated Advice
Proactive advice is at the core of the lucent philosophy. We go beyond traditional process and compliance to help our clients implement new and improved methodologies. An independent perspective together with proactive advice and our expertise, ensures you are equipped with the tools and insight to achieve your goals faster.